Lowering insurance rates for teenage drivers

The Centers for Disease Control and Prevention reports that teens between the ages of 16 and 19 are four times more likely than any other age group to be involved in a motor vehicle accident. Statistics like these are the reason that auto insurance providers significantly increase premiums for families that add a teen to a policy.

According to e-Wisdom.com, however, there are several ways to save money when adding a teen to an auto policy. Making it clear to an insurer that the teen driver will not be driving the Porsche and will only be behind the wheel of the least expensive automobile the family owns can help lower rates.

It can also help to simply purchase an old, inexpensive vehicle for a new teen driver. The cost of the car may very well be covered by lowered insurance rates.

Most insurance providers offer good student discounts of varying percentages for teenagers who have a proven record of maintaining good grades. Having a teenager successfully complete a driver's education course also usually helps lower premiums.

Traffic accidents are the leading cause of death among teenagers in the United States, according to the National Highway Traffic Safety Administration. Distracted driving, speeding, nighttime driving and inexperience are among the top factors that contribute to this statistic.